Bloomberg News Asia

BEIJING -- There is no doubt that the world's second-largest economy is stabilizing -- the most recent data confirms this, but the same data shows the economy is heavily reliant on government policy. The data, released by China's National Bureau of Statistics, reflects a resilient economy. Industrial production rose 6.3% during January and February combined, while fixed asset investment surged 8.9%. Growth in both sectors came in higher than market expectations as polled by Thomson Reuters, which foresaw a 6.2% increase in industrial production and an 8.2% lift in fixed asset investment. The data suggests policymakers are committed to achieving this year's growth target of "around 6.5% or higher," as announced earlier this month by Premier Le Keqiang during the opening session of the National People's Congress. The government has more or less set the target below last year's 6.7% growth as it pushes ahead with difficult economic reforms. ...

As disillusion sets in among U.S. Treasury traders about the Trump administration’s mixed progress on reflating the American economy, one major beneficiary is becoming apparent: emerging Asia. The world’s fastest-growing region offers higher yields and stronger domestic growth stories that are already attracting a renewed influx of capital, with yield premiums on junk-rated bonds hovering near the three and a half year-low reached last month. Herald Van Der Linde, HSBC Holdings Plc’s head of equity strategy for the Asia-Pacific region, said shares in China, India and Indonesia could see gains of at least 10 percent this year should a “reality check” set in among investors over U.S. President Donald Trump’s policies. In the U.S., benchmark 10-year Treasury yields have been whipsawed this week, slipping to 2.34 percent on Wednesday, only to rebound last session to 2.40 percent as Trump promised a “phenomenal” plan to overhaul business taxes. Treasuries were boosted earlier in the wee...

Many technology startups, especially the best and brightest, are avoiding an IPO like a trip to the dentist. Prominent young companies like Uber Technologies Inc. keep finding rich investors to help them delay a debut on the public markets. Among tech companies that sold public stock for the first time in 2016, the median time from their founding to an IPO was 10 years, according to research by University of Florida professor Jay Ritter. During the dot-com peak in 1999, it was four years. And then there's Snapchat parent company Snap Inc., the Bizarro World tech startup when it comes to IPO timing. If Snapchat goes public in the next couple of months as expected, it will be about six years from its founding. It's a Silicon Valley mystery why Snapchat is bucking the trend and going public before it has to. In addition to the peer pressure of IPO avoidance, going public also seems out of character for a company that revels in secrecy. If Snapchat needs more money to expand, it co...